NEW YORK CITY-Sandy Monaghan, an asset recovery expert who was most recently at Cushman & Wakefield, has joined Edison Properties. Monaghan will serve as EVP of the Hippodrome building for Edison, the company announced Friday.
At Cushman, Monaghan served as national practice leader of the resolution group, which provides asset recovery solutions to clients with underperforming real estate. He also oversaw Cushman's property management business in the mid-Atlantic region.
Located at 1120 6th Ave, the Hippodrome is a 21-story, 680,280-square-foot, Class A office building in Midtown that includes street-level retail amenities, executive office space and a 620-space, attached Edison ParkFast parking garage. It is also home to several of Edison's offices.
Monaghan will be responsible for the asset management and sales efforts of the building. He will focus on maximizing the long-term value of the property through active strategic positioning, oversight and coordination of a top-flight team of on-site managers, and branding, sales and marketing efforts.
"Sandy's diverse background and leadership experience will be an enormous asset to the Hippodrome and to our ownership team," says Gary DeBode, CEO of Edison Properties.
Prior to joining Cushman & Wakefield, Monaghan was VP of asset management in J.P. Morgan's global real assets division. While there, he managed a $3.5 billion, 5-million-square-foot portfolio of office and industrial assets in New York City, New Jersey and Boston, as well as a national self-storage and medical office portfolio.
Edison Properties is the family-owned parent company of Manhattan Mini Storage. It also owns the Ludlow, a luxury residential high-rise on the Lower East Side; and Edison ParkFast—40 garages and parking lots throughout New York City, as well as Northeastern New Jersey and Baltimore.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
